The US labor market remained on fire in March with a record 4.5 million workers quitting their jobs, new data from the Bureau of Labor Statistics showed Tuesday.
The number of quits increased most significantly in the professional and business services sector, as well as construction. The overall quits rate moved up to 3%, a level not seen since December 2021."As employers require workers to return to offices, quits are ticking upwards. A major reason for quitting is to find a remote opportunity," wrote ZipRecruiter chief economist Julia Pollak on Twitter.The number of available jobs also rose, climbing to 11.
The manufacturing sector in particular is still struggling with the labor shortage, data from the Institute of Supply Management showed Monday, after a key survey reported higher quits rates.Retail and manufacturing job postings rose, JOLTS data showed, while government jobs and positions in transportation, warehousing and utilities decreased."Workers continue to quit and get hired at fast rates in today's economy.
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